Nearly three quarters of small business owners plan to leave their businesses in the next ten years. For some, that means passing the business along to a family member or a carefully selected successor. For others, that means selling the business. But selling a business isn’t...
Succession planning is complicated in the best of cases. Succession planning in the family business could lead to a disaster of epic proportions. The reasons for failure are endless: from emotional triggers to secrecy, from impossible expectations to a lack of respect. Families are complicated,...
If you’re running a business and you have been for a while, chances are you’re aware how indispensable you are. All the information, the relationships and the experience of the business is in your head, tied up with you and your brain. Then, something unexpected...
It’s tempting to go online and use a free service to generate your will. After all, there are so many things we can do for free online these days. Why not create your will, too? These DIY services are intentionally simple. They walk you through the process, step by...
A 2017 Angus Reid poll found that roughly half of all Canadians don’t have a will.[1] There are any number of reasons – ahem, excuses – for this: they don’t like to think about dying; they’re too young; they have no assets. And nearly 1 in 5 Canadians doesn’t...
It’s simple to put together a will. Anyone can scribble down their wishes on the back of a napkin, sign it, and put it away in the filing cabinet for later. What’s more complicated is making a proper, well thought out plan. You likely have more assets than you’re aware...
According to recent data from Statistics Canada[1], more and more Canadians are living in common law relationships, either prior to choosing marriage or as a more permanent arrangement. And an Angus Reid poll found that more than half of Canadians simply feel that marriage isn’t necessary.[2] Today, people choose to live in...
Choosing the right executor can be challenging under certain circumstances, but in some cases it may be a bad idea. Your estate may be complicated, or maybe your beneficiaries don’t get along. Whatever the reason, it’s critical that your executor be able to take care of the administration...
Less than one quarter of Canadians under 35 has a will.[1] This is especially shocking, considering that it is during these years that young professionals begin to get married, have children and buy property. Often the problem is that planning an estate seems daunting. Despite that, it’s important to...
After a lifetime of working and saving, most Canadians want to pass something along to the next generation. Those who have planned carefully have likely taken steps to protect their wealth and their assets even after their death. Others have not. Either way, it’s important...